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IBN.N

ISIN: US45104G1040
SEDOL: 2569286

Rating:

HOLD

Target Price:

39.68 USD

Investment Horizon:

6 to 24 months
21st Jan 2010 View Report   Download

3Q 10 News Alert

ICICI Bank Ltd. (ICICI Bank) reported a sequential decline in total revenues reflecting declining treasury income. However, operating expenses also declined during the quarter reflecting benefits from the cost control program. Lower provisions for loan losses & contingencies coupled with lower income tax expenses resulted in modest sequential growth in the company's bottom-line....

19th Jan 2010 View Report   Download

2Q 10 Update Report

The Indian economy grew at a robust pace of 7.9% y-o-y during the quarter ended 30 September 2009, with continued strength expected in the quarter ended 31 December 2009. Furthermore, the Index of Industrial Production continued its robust growth, at 11.7% in November 2009. However, Consumer Price Index (CPI) inflation stood at 13.51% in November 2009. High inflation coupled with rising liquidity has put tremendous pressure on the…

30th Oct 2009 View Report   Download

2Q 10 News Alert

ICICI Bank Ltd. (ICICI Bank) reported positive growth in 2Q 10 bottom-line supported by significant costs improvements. Furthermore, although provisions increased y-o-y, they have declined q-o-q reflecting improved asset quality. Going forward, we maintain a cautious outlook given optimism regarding cost controls and improving economic conditions offset by risk concerns regarding tightening monetary policy....

31st Jul 2009 View Report   Download

1Q 10 Update Report

Indian Wholesale Price Index (WPI) inflation stood at -1.2% for the week ending 04 July 2009, compared to +12.2% for the corresponding period in 2008. The Index of Industrial Production (IIP) rose by 2.7% in May 2009, after a rise of 1.4% in April 2009. Meanwhile, in July 2009, the IMF revised its GDP growth estimate from 4.5% to 5.4% and from 5.6% to 6.5% for 2010 and 2011 respectively. The Indian prime minister expects GDP to grow by 7% in 2010. Considering these…

27th Jul 2009 View Report   Download

1Q 10 News Alert

ICICI Bank Ltd.'s (ICICI Bank) 1Q 10 results beat market expectations, noting a turnaround in trading income and an improvement in operating performance. However, the bank reported both a increase in provisions and a decline in advances during the quarter. Going forward, while we are confident about the bank's cost cutting initiatives, we remain concerned by asset quality and expect credit off-take to remain moderate over the near-to-medium term, with a further…